Metis Global Partners LLC Sells 2,298 Shares of NIKE, Inc. (NYSE:NKE)

Metis Global Partners LLC trimmed its position in shares of NIKE, Inc. (NYSE:NKE) by 5.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 42,346 shares of the footwear maker’s stock after selling 2,298 shares during the quarter. Metis Global Partners LLC’s holdings in NIKE were worth $3,743,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Orion Portfolio Solutions LLC lifted its holdings in shares of NIKE by 14.0% during the 1st quarter. Orion Portfolio Solutions LLC now owns 73,071 shares of the footwear maker’s stock valued at $6,867,000 after purchasing an additional 8,947 shares in the last quarter. Dorsey & Whitney Trust CO LLC boosted its holdings in shares of NIKE by 24.0% in the first quarter. Dorsey & Whitney Trust CO LLC now owns 11,308 shares of the footwear maker’s stock valued at $1,063,000 after buying an additional 2,187 shares during the period. Great Lakes Retirement Inc. increased its position in shares of NIKE by 6.5% during the first quarter. Great Lakes Retirement Inc. now owns 10,157 shares of the footwear maker’s stock worth $955,000 after acquiring an additional 621 shares in the last quarter. M&G Plc acquired a new stake in shares of NIKE during the first quarter worth $10,109,000. Finally, Pinkerton Retirement Specialists LLC lifted its position in NIKE by 3.0% in the 1st quarter. Pinkerton Retirement Specialists LLC now owns 14,886 shares of the footwear maker’s stock valued at $1,399,000 after acquiring an additional 432 shares in the last quarter. Institutional investors and hedge funds own 64.25% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on NKE. Piper Sandler reissued a “neutral” rating and issued a $80.00 price target on shares of NIKE in a research note on Friday, September 20th. Guggenheim decreased their price target on shares of NIKE from $115.00 to $110.00 and set a “buy” rating for the company in a research note on Wednesday, October 2nd. Deutsche Bank Aktiengesellschaft cut their price objective on shares of NIKE from $95.00 to $92.00 and set a “buy” rating on the stock in a research report on Wednesday, October 2nd. Williams Trading raised shares of NIKE from a “sell” rating to a “buy” rating and raised their target price for the company from $67.00 to $93.00 in a research report on Friday, August 16th. Finally, Stifel Nicolaus cut their price target on shares of NIKE from $88.00 to $79.00 and set a “hold” rating on the stock in a research report on Monday, August 26th. Fourteen investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, NIKE currently has a consensus rating of “Moderate Buy” and an average price target of $96.48.

NIKE Price Performance

Shares of NIKE stock opened at $75.67 on Friday. The company has a quick ratio of 1.58, a current ratio of 2.36 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $113.46 billion, a price-to-earnings ratio of 21.68, a price-to-earnings-growth ratio of 1.86 and a beta of 1.03. NIKE, Inc. has a twelve month low of $70.75 and a twelve month high of $123.39. The company has a 50-day simple moving average of $81.07 and a two-hundred day simple moving average of $83.44.

NIKE (NYSE:NKE) last issued its quarterly earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.18. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The business had revenue of $11.59 billion during the quarter, compared to analysts’ expectations of $11.64 billion. During the same period in the previous year, the company posted $0.94 earnings per share. The firm’s revenue for the quarter was down 10.4% compared to the same quarter last year. Analysts forecast that NIKE, Inc. will post 2.74 EPS for the current year.

NIKE Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.11%. This is an increase from NIKE’s previous quarterly dividend of $0.37. NIKE’s payout ratio is 42.41%.

About NIKE

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, accessories, and services worldwide. The company provides athletic and casual footwear, apparel, and accessories under the Jumpman trademark; and casual sneakers, apparel, and accessories under the Converse, Chuck Taylor, All Star, One Star, Star Chevron, and Jack Purcell trademarks.